$100 Oil Is a Stock Market Reality—and It’s Not the Only Concern

U.S. stocks were set to open at the lowest levels since November on Monday as global crude prices soared, risk sentiment evaporated, and investors recalibrated their growth and inflation forecasts for major economies around the world amid an escalating war with Iran. With the U.S. vowing to continue its effort to destroy Iran’s nuclear weapons program and bring about an “unconditional surrender,” and officials in Tehran extending their retaliatory strikes against Persian Gulf states, the 10-day war shows no signs of abating. Oil blasted through $100 a barrel minutes after futures markets opened late Sunday, with Brent crude contracts for May delivery, the global pricing benchmark, reaching an intra-day peak of $119.50 a barrel, the highest in four years.